House of the Day: Price Cut at 202 Clermont
We just heard that Douglas Elliman has cut the price at 202 Clermont by $150,000, so even though the website still says $2 million, brokers are saying it can be yours for $1.85 million. Of course, the person who tipped us off still thinks the place is overpriced: “202 Clermont is that narrow, developers’ reno…
We just heard that Douglas Elliman has cut the price at 202 Clermont by $150,000, so even though the website still says $2 million, brokers are saying it can be yours for $1.85 million. Of course, the person who tipped us off still thinks the place is overpriced: “202 Clermont is that narrow, developers’ reno job that’s been collecting cobwebs. On the day that I saw it, the “brand new” roof was leaking.” Ouch. Do we hear $1.7 million? How about $1.6 million?
WEB# 723400 [Prudential Douglas Elliman] GMAP
The New York Times recent sales that are published in the paper are about six months after the sales. I know this because two houses I bid on appeared that long after — a 20′ wide on Garfield for around $2.26 and 17′ wide center stair (cannot easily be a double duplex) on 6th Street for $1.65. I think you’ll find in general 20′ wide 4-stories in PS are unavailable under $2M unless they are truly unlivable. There are 3-story houses available under $2M. In CH and FG it seems to be a different story. Also, I have been to open houses between 9/05 and 12/05 for houses over $2M which have sold in PS. The under $2M houses in PS are not underpriced — they’re very, very narrow or have a center stair.
Sloper, couldnt the argument be made that these Park Slope properties are vastly underpriced compared to their neighbors up the hill. I think you’ve pretty much the case that there are plenty of properties available in PS under $2MM. However, there are quite a few properties that are well over $3MM. Some of these are larger buildings sitting on 25 ft lots. However, there are many in the +$3MM ‘club’ that appear to be normal 2-family 4 story buildings(the 1st st listings i mentioned earlier). Why the 50% premium for these houses? Is living one block closer to the park really worth $1MM?
These days, Ft Greene and even Clinton Hill prices near/are equal to Park Slope prices. I think they are due for a correction.
If you search the recent sales (9/29/05-11/04/05 for 11215 and 11217 on the NYTimes website, there were _no_ sales for above $2 million during this period.
There are certainly houses in the $1 – $2 m range, and not only in the south slope. From Brownstoner in December:
NORTH SLOPE:
147 Lincoln Place
Brown Harris Stevens
Sunday 12:30-2:30pm
$1,875,000
CENTER SLOPE:
December 13, 2005, House of the Day: Last Great Deal in the Slope? (4th Street between 5th and 6th) “The listing calls this house “truly the last great deal in Park Slope” and on the surface it looks like that might be true. All we have to go on is a single photo which doesn’t even make clear which house is for sale, but both look pretty nice from the outside, especially given the $1.2 million asking price for Center Slope.”
375 6th Avenue (near 6th St)
Betancourt & Associates
Sunday 1-3pm
$1,525,000
$1.65 million
465 Ninth Street
2-family, 4-story brownstone; 3 bedrooms, 2½ baths, dining room, eat-in kitchen, 2 dens, triple parlor in primary triplex; 1 bedroom, 1 bath, den in top-floor simplex, original mahogany woodwork and detail, pocket doors, high ceilings, pegged parquet floors in each; needs work; 20-by-80-ft. lot; taxes $3,197; listed at $1.695 million, 2 weeks on market (broker: Orrichio Anderson)
SOUTH SLOPE:
348 10th Street
Leslie J. Garfield
Sunday 11-1pm
$1,275,000
It’s a brownstone divided into 8 front-and-back 1-bedrooms. Most of the under $2M listings are either in PH or South Slope.
8 apartments? isn’t that an apartment building?
If you do a search on http://realestate.nytimes.com in Park Slope, Prospect Heights (one selection covers both) for houses under $3M you will see that there, in fact, are many brownstones in PS for sale in the $2M and above range and they are not all park block houses — one on President and 4th Avenue with 8 apartments is asking $2.5M.
I think iac meant First Street, not First Avenue. But iac, your examples actually aren’t a fair representation. Those are all park block addresses — between 8th Avenue and Prospect Park West — and are higher than most Park Slope brownstones because of the prime location. Also, Brown Harris Stevens tends to take on only the highest-end properties, so their listings overall are on the high side.
Most Park Slope brownstones that aren’t on park blocks are under $3 million, and many are under $2 million (just do a quick search on Corcoran — even on Brown Harris Stevens — to verify).